Joseph Orabona's (vectortax) Blog

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Services for Real Estate Pros - Vector Tax & Accounting LLC
RECENT BLOG POSTS
If you are working as a freelancer or gig worker, you are certainly not alone. Millions of men and women are earning extra income driving for ride sharing services, designing websites for online entrepreneurs and writing for local businesses.  Some freelancers and gig workers have even said goodb...
06/07/2021
Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly difficult to get every number and detail right.  Often, you only notice the mistakes when you take a casual look at your return days after you submit it online or drop it in the mailbox. Or wo...
05/27/2021
  Whether you gamble all the time or only once in a blue moon, you are filled with hope and excitement every time you walk through those casino doors. If you have been gambling for even a little while, you already know that Lady Luck can be a fickle partner. Sometimes the gods of the casino smil...
05/20/2021
            A lot of our clients that come to us with back tax problems are self-employed. For one reason or another, they fall behind on their taxes. With COVID-19, small businesses have been hit the hardest and despite the government stimulus bills, there are still millions of businesses teete...
05/13/2021
If you are a procrastinator, tax filing season is probably the worst time of year. With deadlines looming, filling out all those complicated forms and making sense of an increasingly complex tax code that changes almost every year can seem like an overwhelming task. But no matter how long you put...
03/11/2021
Tax returns can often be filed with incomplete or incorrect information, leading you to more tax trouble than you bargained for. If you filed early, you might have overlooked income from a temporary job or a side gig, only to get a 1099 or late W2 for the income earned.  Other filers may eventual...
03/02/2021
Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf. According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a ...
01/20/2021
The IRS released their formal guidance yesterday on tax deductions from expenses paid for with Paycheck Protection Program finds. In April 2020, the IRS made their position known; they would not allow any deductions for expenses paid with forgiven PPP funds.  During the year I’ve written about, a...
01/07/2021
Taxes are one of those topics people hate to talk about or even think about, especially if they end up owing money in back taxes every year. That's why many taxpayers wait until the very last moment to prepare for tax season. It’s also why nearly 14 million Americans find themselves receiving th...
01/05/2021
If you’ve been at all following the news, you’ve likely heard that Congress has finally agreed to a new COVID relief package that was signed by President Trump.As we have been following the news this past week I have written, deleted, and rewritten this blog at least 4 times, trying to keep up wi...
12/28/2020
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Joseph Orabona

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